Time For A Correction?

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The EURUSD has tested 1.2000, the USDCAD has made almost a full round trip back to January lows, both WTI and Brent look set to end diagonal cycles, breadth in equity markets has been terrible, real rates not making new lows, Gold has stalled, bids look weak up here above 3500 on the S&P, and September is typically the worst month for risk assets. 

All of these reasons point to a likely shift in equities and currencies over the next few days. Whether it turns out to be a correction or something more remains to be seen. From a trading point of view, we will assume correction until we have evidence of something more.

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